VN Business Forum focuses on economic reform

Vietnam Business Forum focuses on economic reform

The Vietnam Business Forum 2013 opened in Hanoi on Dec. 3.
The Vietnamese Government will continue its synchronous and effective management of economic, financial, fiscal and monetary policies while maintaining macroeconomic stability and curbing inflation in both the short and mid-term.

Deputy Prime Minister Hoang Trung Hai made the remarks at the Vietnam Business Forum 2013 co-organised by the International Finance Corporation (IFC), the World Bank and the Vietnamese Ministry of Planning and Investment in Hanoi on December 3.

He applauded opinions raised by delegates, associations and organisations at various business forums, saying that they are valuable to the country’s economic development.

In the immediate future, the Government will focus on such areas as banking, capital market, bad debts, public investment, State-owned enterprises and market economic institutions, the Deputy PM said.

Minister of Planning and Investment Bui Quang Vinh stressed that Vietnam stands ready to listen to and wishes to hold dialogues with business communities both at home and abroad in order to improve the country’s business and investment environment.

Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc lauded the Government’s efforts in stabilising the macro-economy, saying thanks to the lower interest rate, many businesses have a chance to access bank loans.

Upgraded infrastructure, underway international agreements and the Government’s consistent stance in adjusting prices of several goods in line with the market mechanism have also encouraged the business community.

Loc suggested more pragmatic reforms with priorities given to overhauling State-owned enterprises and improving the business and investment environment.

IFC Regional Director Simon Andrews said Vietnam has made significant achievements in macroeconomic stabilisation and economic restructuring.

He, however, proposed the Vietnamese Government continue revamping the banking system, accelerating the reform of State-owned enterprises and increasing transparency in the State sector in a bid to improve its investment environment.

Sharing Simon Andrews’ views, representatives from the European Chamber of Commerce, the American Chamber of Commerce and the Northern European Chamber of Commerce called on the Vietnamese Government to remove trade barriers and improve tax policies and other issues regarding institutions and administrative procedures.

Delegates at the event focused their discussion on issues related to the investment environment, banking, capital market, investment and trade, infrastructure, education and training, and transparent governance.

The forum is the official dialogue channel between the Vietnamese Government and the country’s business community to build a favourable investment environment, lure more investors and stimulate economic growth.-VNA

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